Ministry of Municipalities and Housing Approves Controls for Early Extension of Lease Contracts for Investment Projects
وزارة البلديات والإسكان تعتمد ضوابط التمديد المبكر للعقود الإيجارية للمشاريع الاستثمارية
The Ministry of Municipalities and Housing has approved controls for the early extension of lease contracts for large investment projects concluded before the entry into force of the updated Municipal Real Estate Disposal Regulation, in implementation of a Royal Order enabling early renewal of investment contracts after half the contract term has elapsed. The controls allow investors to extend their lease contracts during the active term, continue developing and expanding their projects, and add new investments, within a governance framework that balances the rights of municipal entities with investors' ability to pursue development. The Ministry invited investors and interested parties to review the controls and the mechanism for benefiting from them via the link on the Furas platform.
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